Verition Fund Management LLC Raises Stake in Ambarella, Inc. (NASDAQ:AMBA)

Verition Fund Management LLC grew its stake in Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 46.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,894 shares of the semiconductor company's stock after buying an additional 7,219 shares during the period. Verition Fund Management LLC owned 0.06% of Ambarella worth $1,291,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AMBA. Millennium Management LLC lifted its stake in Ambarella by 7.0% in the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company's stock valued at $78,091,000 after buying an additional 94,257 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Ambarella by 4.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company's stock valued at $76,332,000 after acquiring an additional 61,387 shares during the period. Dimensional Fund Advisors LP raised its position in Ambarella by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 683,119 shares of the semiconductor company's stock valued at $36,854,000 after purchasing an additional 2,994 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Ambarella by 7.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 666,286 shares of the semiconductor company's stock valued at $37,582,000 after purchasing an additional 43,874 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Ambarella by 69.2% during the 2nd quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company's stock worth $33,090,000 after purchasing an additional 250,778 shares during the period. 82.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO John Alexander Young sold 2,139 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $114,522.06. Following the sale, the chief financial officer now directly owns 103,529 shares in the company, valued at $5,542,942.66. This represents a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Leslie Kohn sold 1,608 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $86,092.32. Following the transaction, the chief technology officer now directly owns 961,433 shares of the company's stock, valued at approximately $51,475,122.82. This trade represents a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,356 shares of company stock worth $859,210. Company insiders own 5.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Westpark Capital reaffirmed a "buy" rating and issued a $85.00 target price on shares of Ambarella in a report on Monday, August 26th. StockNews.com raised Ambarella from a "sell" rating to a "hold" rating in a research note on Monday, December 2nd. Needham & Company LLC boosted their target price on Ambarella from $90.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Roth Mkm restated a "neutral" rating and set a $60.00 price target on shares of Ambarella in a research note on Wednesday, August 28th. Finally, Craig Hallum boosted their price objective on shares of Ambarella from $85.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $82.92.

Ambarella Stock Up 3.4 %

Shares of NASDAQ AMBA traded up $2.38 during midday trading on Friday, hitting $71.70. The company had a trading volume of 526,821 shares, compared to its average volume of 847,092. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of -18.58 and a beta of 1.68. Ambarella, Inc. has a twelve month low of $39.69 and a twelve month high of $81.32. The business has a 50-day simple moving average of $60.84 and a two-hundred day simple moving average of $56.15.

Ambarella Company Profile

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.